Credit | - Part 4

Moody’s: Mauritius’s diversified and resilient economy support rating; fiscal challenges

Port Louis, Mauritius (Capital Markets in Africa) — Mauritius’s small yet diversified economy, good record of attracting investment and its resilience against external shocks underpin its Baa1 (Stable) government bond rating, Moody’s Investors Service said in its latest credit analysis of the country published this week. The Mauritian authorities’ key challenges are to continue to foster domestic and foreign investment, maintaining the country’s financial stability and consolidating the public finances to help meet its government…

Moody’s affirms Tunisia’s government issuer rating at Ba3 and changes the outlook to stable from negative

Posted on by The Editorial Team

Tunis, Tunisa (Capital Markets in Africa) — Global rating agency Moody’s has affirmed Tunisia’s government issuer rating at Ba3 and changed the outlook to stable from negative. The key drivers for the ratings rationale were attributed to a significant decline in domestic political risk emphasized by the successful democratic transition and installing of a broad unity government. As well as reduced external funding challenges following the resumption of official financing and access to international capital…

Broadly stable outlook for Sub-Saharan African sovereign credit quality

Posted on by The Editorial Team

London (Capital Markets in Africa):- The credit quality of sovereigns in Sub-Saharan Africa (SSA) over the next 12-18 months will be supported by strong infrastructure investment, structural reforms and competitiveness gains from currency depreciation, says Moody’s Investors Service in its latest sovereign outlook for the region. However, lower oil and commodity prices, uneven global growth, latent political risk and tighter external financing conditions pose challenges of different magnitudes to the region’s economies. The report, “Sovereign…

Moody’s: Currency shifts to widen gap between global economies in 2015-16

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London (Capital Markets in Africa):- Robust US growth and stabilising financing conditions will help the global economy to grow more strongly next year after muted growth in 2015, says Moody’s Investors Service in its quarterly Global Macro Outlook report. Divergence between the major economies is likely to widen. The report “Global Macro Outlook: 2015-16. Stronger US Dollar and Shifts in Capital Flows Stoke Divisions in Global Growth”, is now available on www.moodys.com. Moody’s subscribers can…

Democratic Republic of the Congo B3 rating balances economic fragility with healthy growth prospects

Posted on by The Editorial Team

The Democratic Republic of the Congo’s (DRC) B3 rating primarily reflects the country’s fragile economy and very low per capita income relative to its peers, Moody’s Investors Service says in its latest Credit Analysis for the country published this week. However, the country’s robust growth prospects mitigates some of these constraints. The annual report is available through the links at the end of this press release. The research is an update to the markets and…

Global speculative-grade default at a seven-year low of 1.4% in 2014

Posted on by The Editorial Team

London (Capital Markets in Africa):- Standard & Poor’s indicated that 60 corporate issuers worth $91.6bn in rated debt defaulted globally in 2014, down from 81 defaulted issuers worth $97.3bn in 2013. It noted that the number of defaults reached its lowest level since 2011 despite considerable geopolitical turmoil, the ending of the U.S. Federal Reserve’s monthly asset purchases, and the steep decline in global oil prices. Also, it added that the outstanding debt volume that defaultedwas in line with the $91.5bn average…

Gabon’s Ba3 rating balances wealth and sound public finances with risks stemming from low oil prices

Posted on by The Editorial Team

Gabon’s Ba3 rating is supported by its oil- wealth, relatively sound public finances and membership of the Franc Zone, Moody’s Investors Service says in its latest Credit Analysis for the country published recently. However, a relatively undiversified economy and the government’s reliance on oil-derived revenue are among the factors which constrain its rating. “The key challenge for Gabon’s government is to stick to its plan to diversify the economy, while maintaining sound public finances at…

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